Barbados

Employees

0

• Third-party revenues

  $0

• Related-party revenues

  $0

• Total revenues

  $0

• Profit before tax

  $(198,994)

• Corporate income tax paid

  $0

• Corporate income tax accrued

  $0

• Stated capital

  $135,769,000

• Accumulated earnings

  $(290,030,243)

• Tangible assets

  $8,211,734

• Other payments to governments

  –

Shell's footprint

Shell has been present in Barbados since 1982. In 2017, Shell acquired Chevron Trinidad and Tobago Resources SRL (a Barbados-incorporated entity, renamed Shell Trinidad and Tobago Resources SRL). Shell Trinidad and Tobago Resources SRL holds an interest in several production-sharing contracts in Trinidad and Tobago (see Trinidad and Tobago for more details). In 2022, through a new Barbados branch, Shell acquired a participating interest in exploration licences for two deep-water blocks off the south-east coast of Barbados.

Country financial analysis

The statutory corporate income tax rate in Barbados varies from 0% to 5.5%, depending on the type of business activity and level of income in the entity. Petroleum profits are taxed under a separate regime and subject to a profit tax of up to 30%. Profits from the operations of Shell Trinidad and Tobago Resources SRL in Trinidad and Tobago are not taxable in Barbados. The loss reported in 2022 is related to the new branch and the cost of exploration activities. The reduction in stated capital, compared with 2021, was because of cumulative currency translation differences and share premium repayments.